HRI posts positive financial figures for first time in five years

FOR the first time since 2007 Horse Racing Ireland has posted positive financial figures, a sign the Irish industry’s repeated losses might have bottomed out according to HRI CEO Brian Kavanagh.

Exceptional bloodstock sales, with a rise of €13m in Ireland and an estimated €112m from auctions in Britain and France, increased the value of Irish foals from €146.9m to 156.5m in 2011.

“Maybe it’s bottomed out,” said Kavanagh.